One of China's largest copper smelters has locked in a major deal for supply at a time of reduced demand due to a virus-led logistics lockdown in the country.
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"The story is similar for copper. Global wind technologies are expected to require an average of 450,000 tonnes per annum of the metal per year between 2018 and 2022, increasing to 600,000 tonnes per annum out to 2028. Offshore wind turbines will command an increasing share of copper consumption as larger turbines become commonplace" GLA
The starting gun has been fired. But the shift to cleaner forms of energy is going to be a marathon rather than a sprint, primarily because of huge inertia on both the demand and supply side of the metals equation.
phoneman, minor gaps exist in the 1.22 - 1.23 area....also 1.18, 1.14, and 1.09, 1.03....infact a few others all the way down to 0.6 .... these may just be ignored by price but worth note I think.